S&P500 Expert Lounge Update – August 29, 2017

Good morning everyone,

These are key timing for today: 9:30AMEST, 2:00PMEST

These are key MA levels:  5EMA 2444, 10DMA 2443,  20DMA 2455, 50DMA 2250, 100DMA 2421, 200DMA 2356

These are key Fib Levels: 2454, 2447, 2401, 2389

These are key primary and intermediate levels: 2491(intermediate minor), 2459(intermediate minor), 2440(intermediate minor), 2424(intermediate minor), 2410(intermediate minor), 2404 (intermediate minor), 2384(intermediate),

Here is today's market look at the S&P 500 for Tuesday, August 29, 2017

The overnight session thanks to a little help from Mr. Kim while volatile has been tracking the magenta and white MSP the best which would lend itself to a flat to down overall regular trading hours session.  Data wise we have the Feds Redbook at 8:55AMEST, Case Shiller Home Price Index at 9:00AMEST, and lastly a double dose of confidence with both the Consumer and Investor Confidence Surveys coming in at 10:00AMEST.


With the pending regular trading hours gap down, the 100DMA and intermediate minor level of 2424 is a solid area of interest.  Sustained trade below that level and things get slippery with very little in the way of support levels or technical help until the psychological level at 2400 and then the intermediate level at 2383.  Buyers have their job cut out with multiple declining resistance levels and a pile of moving averages bearing down on any rally attempts, but their first target to reclaim would be 2440.  Good luck today!

Primary and Intermediate Levels Detail

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